When is a Personal Loan with a Fixed Rate a Better Choice?
When you are making a large purchase and will require a sufficient amount of time to pay off the debt, a personal loan is a better option. You can shop around for the lowest interest rate and the terms. You do not have to be worry about increasing rates. When is a Credit Card a Better Choice? If the expense is small, and are able to pay it off quickly, then a credit card can be a better choice. You already have the credit card and you don’t have to wait for any approval. If you can find a credit card with an introductory offer of 0% and you know that you can pay off the purchase before that offer expires then using a credit card is a choice that works. A credit card is also a better choice if you plan to pay off the purchase at the end of the month. In this case a credit card is far more convenient and you won’t pay any interest because you pay it off before interest is incurred.
